New Thomson Reuters desktop aims at Bloomberg
Monday 13 September 2010
Thomson Reuters' next generation desktop product for financial professionals (pictured above) incorporates social media features it hopes will help win customers from Bloomberg and others.
Eikon, to be launched on Tuesday, incorporates dozens of disparate products that provide data, news, analytics and trading tools, as well as social media applications familiar to users of Twitter, instant messaging and Facebook. It accounts for the biggest part of a $1 billion investment in new financial products. Others are video news service Reuters Insider and data network Elektron.
Along with improved search, customers will also be able to access Eikon on the iPhone, BlackBerry and similar mobile devices.
"What we are trying to do is take the best learning from the consumer media world and apply that to professional tools," said Devin Wenig, markets division chief executive. "Our clients say 'you've got great stuff but we can't get at it because it's in too many places’. And they say the whole industry is looking a little tired and it's time for a refresh."
The new desktop is designed to be more cost-effective for the company and easier to install and upgrade.
"Eikon really simplified the plumbing issues," said Doug Steiner, a consultant to investment bank Scotia Capital, one of 1,000 clients that took part in beta testing the product.
Thomson Reuters will continue to support existing products but expects clients to take up Eikon quickly, Wenig said. They can migrate at no extra cost unless they upgrade.
Bloomberg launched an upgraded version of its desktop in the summer, offering user-friendly features such as more intuitive search.
Thomson Reuters is betting that updated features allowing users to comment, chat and e-mail charts, stories and other data will counter Bloomberg's messaging.
Thomson Reuters’ Q2 results were lower than expected partly because investment in new products reduced its operating profit margin to 20.4 per cent from 24.2 per cent a year earlier. ■